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Why Bitcoin Investors Aren’t Worried About This Price Pullback
Critiques of correlation between bitcoin and equities miss the fact that bitcoin adoption within traditional markets has been driven by a fiat collapse concern.
Critiques of correlation between bitcoin and equities miss the fact that bitcoin adoption within traditional markets has been driven by a fiat collapse concern.
STORY CONTINUES BELOW
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today on the Brief:
- Stock market continues its descent
- Insider stock selling reached five-year high in August
- President Trump promises more aggressive decoupling from China
Our main discussion: Investors and the BTC price dip.
Over the last several weeks, bitcoin has pulled back from $12,400 to around $10,000. This dip has happened alongside a broader retracement in equities, led by falling tech stocks.
While some have levied correlation to equities as a failure of bitcoin, NLW argues this critique misunderstands the narrative that has driven accumulation from new holders over the last six months.
See also: The Case for $500,000 Bitcoin
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
